Earnings Wrap: Exxon, P&G, Motorola, Sprint, Aetna
Filed under: Company News, Earnings, Exxon Mobil, Motorola, Sprint Nextel Corp., Procter & Gamble
The world's largest publicly traded oil company says third-quarter profit tumbled with crude prices, but like other big energy companies, production is bouncing back.Exxon Mobil Corp. (XOM) reported Thursday that profits from July to September dropped 68 percent to $4.73 billion, or 98 cents per share.
Exxon depends on oil and gas production for more than two-thirds of its earnings. The company's petroleum production increased by 3 percent from the same period last year, though crude fetched an average of $50 less per barrel.
The Procter & Gamble Co. (PG) says profit dropped slightly in its first quarter, as consumers around the world kept tight reins on spending for such household items as laundry detergent and shavers.
But the world's largest consumer products company sees signs of a rebound in results that were better than expected, and a better sales outlook for the rest of the year.
The maker of Tide and Pampers reported profits were off 1 percent at $3.35 billion, or 1.06 per share, compared to $3.31 billion, or $1.03 per share, a year ago. Sales fell 6 percent to 19.8 billion.
Analysts expected earnings of 99 cents on $19.83 billion for P&G, which is based in Cincinnati.
Also: P&G Could Put a Shine on Your Portfolio
Motorola (MOT) is reporting an unexpected profit for the third quarter as operating losses in its struggling mobile phone division narrowed.
Its shares are jumping more than 5 percent in premarket trading.
The company based in Schaumburg, Illinois, said it earned $12 million, or a penny per share, in the three months ended Oct. 2. It lost $397 million, or 18 cents per share, in the period a year ago.
Excluding unusual items, Motoroola says its adjusted earnings were 2 cents per share. Analysts had expected a break-even quarter.
Motorola Inc. says its sales fell 27 percent to $5.4 billion. Analysts were looking for $5.5 billion.
Sprint Nextel's (S) losses grew in the third quarter as wireless subscribers continued to leave for other carriers.
The wireless carrier on Thursday reported a quarterly loss of $478 million, or 17 cents per share, compared with a loss of $326 million, or 11 cents per share, during the same period a year ago.
Revenue during the quarter slipped 9 percent to $8.04 billion.
Analysts surveyed by Thomson Reuters expected a loss of 15 cents per share on $8.09 billion in revenue.
Health insurer Aetna Inc. (AET) said Thursday its third-quarter profit rose 18 percent on gains in both commercial and Medicare enrollment.
Still, operating earnings slipped 43 percent on lower commercial plan underwriting margins. A boost in premiums was not enough to offset a rise in medical costs.
The managed care company said it earned $326.2 million, or 73 cents per share, up from $277.3 million, or 58 cents per share, in last year's third quarter. Revenue grew 9 percent to $8.7 billion from $7.98 billion.
Operating earnings, which exclude capital gains and other items, fell 43 percent to $308.2 million, or 69 cents per share.
The results topped Wall Street expectations for operating earnings of 66 cents per share on $8.68 billion in revenue.
Copyright 2009 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
But the world's largest consumer products company sees signs of a rebound in results that were better than expected, and a better sales outlook for the rest of the year.
The maker of Tide and Pampers reported profits were off 1 percent at $3.35 billion, or 1.06 per share, compared to $3.31 billion, or $1.03 per share, a year ago. Sales fell 6 percent to 19.8 billion.
Analysts expected earnings of 99 cents on $19.83 billion for P&G, which is based in Cincinnati.
Also: P&G Could Put a Shine on Your Portfolio
Motorola (MOT) is reporting an unexpected profit for the third quarter as operating losses in its struggling mobile phone division narrowed.
Its shares are jumping more than 5 percent in premarket trading.
The company based in Schaumburg, Illinois, said it earned $12 million, or a penny per share, in the three months ended Oct. 2. It lost $397 million, or 18 cents per share, in the period a year ago.
Excluding unusual items, Motoroola says its adjusted earnings were 2 cents per share. Analysts had expected a break-even quarter.
Motorola Inc. says its sales fell 27 percent to $5.4 billion. Analysts were looking for $5.5 billion.
Sprint Nextel's (S) losses grew in the third quarter as wireless subscribers continued to leave for other carriers.
The wireless carrier on Thursday reported a quarterly loss of $478 million, or 17 cents per share, compared with a loss of $326 million, or 11 cents per share, during the same period a year ago.
Revenue during the quarter slipped 9 percent to $8.04 billion.
Analysts surveyed by Thomson Reuters expected a loss of 15 cents per share on $8.09 billion in revenue.
Health insurer Aetna Inc. (AET) said Thursday its third-quarter profit rose 18 percent on gains in both commercial and Medicare enrollment.
Still, operating earnings slipped 43 percent on lower commercial plan underwriting margins. A boost in premiums was not enough to offset a rise in medical costs.
The managed care company said it earned $326.2 million, or 73 cents per share, up from $277.3 million, or 58 cents per share, in last year's third quarter. Revenue grew 9 percent to $8.7 billion from $7.98 billion.
Operating earnings, which exclude capital gains and other items, fell 43 percent to $308.2 million, or 69 cents per share.
The results topped Wall Street expectations for operating earnings of 66 cents per share on $8.68 billion in revenue.
Copyright 2009 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
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Reader Comments (Page 1 of 1)
10-29-2009 @ 9:05AM
kdnorcutt said...
what a joke. Exxon profits dropped to 4.73 billion what a disaster HaHa. The oil companies are screwing the public and then have the nerve to post these profits and want the american people to feel sorry.
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10-29-2009 @ 9:53AM
jeff said...
About time they started showing what American Really thinks about OBAMA and it is HE LIES...yes that congressman said it all in the Health care speech. Obama promised to cut taxes for the middle class ..HE LIED ... Obama said he would get rid of DERIVATIVES and HEDGE funds which are financial scams ... HE LIED not only that he hired two of the big supporters of "let the Market regulat itself" GEITHNER and SUMMERS!! He said he would create jobs ... HE LIED instead he support amnesty for JOB STEALING ILLEGALS AND REFUSES TO DEPORT THEM AND END THE ANCHOR BABY LAW -change the law so CHILDREN OF ILLEGALS ARE ILLEGALS TOO~!! He said no new taxes would be used to support his health care plan ... HE LIED his plan will tax your employee benefits like health care that is a TAX!! He said he would end the WARS .. HE LIED...instead more troops die every day! Time to elect someone from a third party to all offices and get rid of the REPUBLICRATS and DEMOPUBLICANS who all want the same thing our tax dollars and bribes from the BIG BANKS and OIL COMPANIES!!
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10-29-2009 @ 10:07AM
kdnorcutt said...
This is so close to the truth it hurts. Yes I agree we need a new party in office and new fresh faces. All democrats and republicans in office and so are the parties all they are after is money and only answer to those that have. they have made a total joke of our consitution. A Government of the people for the people. Ha Ha. No we have a government controlled by big money for big money.
10-29-2009 @ 10:06AM
Ed said...
WHAT DID YOU EXPECT---ALL POLITICIANS LIE.....
WHEN MY GRANDFATHER DIED, HE MADE MY GRANDMOTHER PROMISE SHE WOULD NOT LET
THERE CHILDREN EVER BE A POLITICIAN. AND
THAT WAS A MILLION LIES AGO.
Reply
10-29-2009 @ 11:32AM
Eldon White said...
It would be interesting to see what the politicians do if in 2012 "No One" went to the polls to elect a new group of politicians that are on ly interested in seeing how much money they can make for each other.
Reply
10-29-2009 @ 11:11AM
ken said...
it is definatly time to elect a third party. how much more of this can we take? all politicians are full of crap, its a joke. there needs to be a major uprising in this country and put an end to this. everywhere you turn taxes are going up, peoples retirements are stolen, kids run amok with no rules because parents are scared to discipline, ect. its also time for child murderers and child rapists to be executed as soon as found guilty. intentional murderers and rapists also need to be executed as soon as possible. this day and age dna confirms all that are guilty. why are we paying for the peices of sh*t to live years in prison on our money. billions would be saved by killing these sh*tbags as soon as found guilty. people dont care anymore about commiting these crimes because there is very little punishment to fit the crime. it time common sense was used in this country.
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10-29-2009 @ 11:45AM
kdnorcutt said...
Agree 100% with your post. These criminals need to be removed from society . Prisons are there to punish and rehabilitate . So those punished can return to society and live a useful live. Most rapists and pedophiles and murderers have a mental problem and will never be able to live a useful life so why waist the money keeping them in prison.
10-29-2009 @ 12:40PM
mattshottie0613 said...
i cant wait for sprint to go down when i had their service i told them if they didnt make a better deal for me to get a new phone that i can afford cause mine broke that i was taking my bussiness elsewhere well they told me "we dont care we have millions of other customers" well good luck sprint they are all leaving ...
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